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Tareq Al-shamali

on 30 April 2010

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Transcript of Tareq

The Market Economy Driven by profit Market Economy problems Profit or Enviornment In a market economy,answers to the economic questions will be influenced by profit. People will make and distribution products or services that can be sold at a price greater than the production costs. Supply and demand
The relationship between the production and consumption of goods and services Market The area of trade or business. Prices were decided by the supply brought to market by sellers, and the demand of customers to have these products. Market economies expanded rapidly in the 19th century as the industrial revolution spread. The aggresive actions of powerful entrepreneurs led social critics to call the "robber barons". These business people owned and operated factories, railway lines and powerplants Their investments created immense fortunes, and the entrepreneurs and their families lived in luxery. Meanwhile, most working people labored long hours little pay. Since then, other organizatios have sought better pay and working conditions for all workers. Market economies go through cycles of decline, called an ecomomice depression. Economic depression Time of enemployment, low prices, low profits, and loss of business. Choosing between protecting the enviornment allowing the growth of business can be very difficult. Responsible companies seek to limit their impact on the enviornment. For example, they may replant trees or reduce waste by recycling. canadian financier sir henry pellatt built Casa Loma, a 98-room mansion overlooking the city of Toronto. Mixed economies Traditional Economy You use the cow for milk or share the meat with the community. Market economy Its still your herd, but you feel wrapped up in government regulations. Market economy You buy a bull to build up a herd of diary and beef cattle to sell Command economy the government takes your herd and puts you to work looking after them Thanks for watching
By. Tareq and Matt
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